Guideline Value for THIRUGANASAMBANTHAR STREET (KOVIL LAND)

Thiruganasambanthar Street (Kovil Land) guideline value

The current guideline value of Thiruganasambanthar Street (Kovil Land) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Thiruganasambanthar Street (Kovil Land) has changed

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 2,300 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 2,500 per sq.ft, reflecting a change of 9% from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft in 2024. The median guideline value for these streets is Rs 3,800 per sq.ft, indicating that the 2024 figure for Thiruganasambanthar Street (Kovil Land) is below this median.

• Thirumagal Colony: Rs 8,200 per sq.ft (2024)
• THANTHOONIAMMAN KOIL STREET (Kovil Land): Rs 3,400 per sq.ft (2024)
• Thiruvalleswarar Colony (Kovil Land): Rs 3,400 per sq.ft (2024)
• Thanikachalam Street (Near Jagadambikai Nagar): Rs 3,400 per sq.ft (2024)
• Thiruvalluvar Kovil Street: Rs 3,400 per sq.ft (2024)
• Thangavel Thottam: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruganasambanthar Street (Kovil Land)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruganasambanthar Street (Kovil Land)?

The Sub Registrar Office that covers Thiruganasambanthar Street (Kovil Land) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in Padi

The guideline value is a crucial factor during the registration of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared against the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiruganasambanthar Street (Kovil Land)?

The current guideline value of Thiruganasambanthar Street (Kovil Land) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office handles property registrations for Thiruganasambanthar Street?

The Villivakkam Sub Registrar Office handles property registrations for Thiruganasambanthar Street (Kovil Land), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Thiruganasambanthar Street (Kovil Land)?

Thiruganasambanthar Street (Kovil Land) is classified as Residential Class V Type - I.